IRVINE, Calif.--(BUSINESS WIRE)--CB Resource, Inc. (“CBR”), a risk management and planning company focused on the community banking sector, announced that they have developed a “Pandemic Strategic and Risk Management Solution” in addition to their enterprise risk management, strategic plan, & capital plan solutions. “This targeted solution ensures that community banks have re-calibrated their market position to optimize their performance and mitigate existing or emerging risks. Additionally, the service includes a customized dashboard that reflect KPIs and KRIs associated with the current pandemic and related risk conditions,” remarked Jeff Rigsby, President and CEO of CB Resource, Inc.
On March 24th, 2020, the firm published a complementary risk assessment to gauge community bank’s readiness and responsiveness to the COVID-19 pandemic, the shock to interest rates, and the oil price war. The new solution is a response to the initial findings.
CBR found that the majority of banks surveyed have established business continuity plans, formed response teams, developed accommodation programs for at risk customers, and have effectively addressed employee and customer wellbeing. Operational challenges appear to be under control.
However, the assessment generated data that raises red flags and shows areas of weakness. The data shows that most of the banks surveyed are concerned about maintaining performance, worsening credit quality, and potential short and long term impact to earnings and capital.
- Over 83% somewhat believe or believe they will not achieve their net income or growth target for 2020.
- Over 70% have not developed a strategic response to mitigate the adverse performance impact of the pandemic and related risk factors.
- Over 65% believe COVID-19 and related risk factors will adversely impact the quality of their credit portfolio.
- Over 65% believe the prolonged low interest rate environment will have an immediate severe impact on their net income.
In light of these statistics, the firm developed the “CB Resource Pandemic Strategic and Risk Management Solution.” This program will help guide your bank in these challenging times, with the goal of maintaining performance levels and mitigating new risks and threats. More information can be found in this link, by calling 949-502-6910, or emailing rfinch@cb-resource.com.
About CB Resource, Inc.
Founded in 2011, CB Resource, Inc. is a professional service firm offering enterprise risk management, strategic planning, and capital planning solutions to financial institutions. The firm leverages proprietary technology and subject matter expertise to support their clients’ ability to achieve optimal performance in good times and bad.